BDO USA, LLP Announces Appointment of Lee Klumpp to FASB Nonprofit Industry Fellowship

CHICAGO--(BUSINESS WIRE)--BDO USA, LLP, one of the nation’s leading accounting and consulting organizations, today announced that Lee Klumpp, assurance director, has been selected for a two year Financial Accounting Standards Board (FASB) Industry Fellowship Program. In this role, Mr. Klumpp will act as a project manager focusing on implementation and emerging practice problems in the nonprofit industry. This will include making recommendations to the Board on technical issues, developing and drafting Statements, Interpretations, FASB Staff Positions (FSPs), and Questions and Answer Implementation Guides. Lee will also research problems and analyze comments from nonprofit organizations as well as academic and practicing members of the FASB constituency and lead Board discussions on current accounting issues that affect nonprofit organizations.

“Lee’s technical knowledge and years of experience working with nonprofit organizations made him the clear choice for this fellowship”

The appointment is effective in September. Mr. Klumpp is based in the firm’s Bethesda office and is a member of the Nonprofit & Education practice and the BDO Institute for Nonprofit Excellence^SM.

“Lee’s technical knowledge and years of experience working with nonprofit organizations made him the clear choice for this fellowship,” said Wayne Berson, CEO-elect and national director of the BDO Institute for Nonprofit Excellence. “His role will be of great benefit to our clients as they work to understand and implement future FASB standards.”

Mr. Klumpp has more than 19 years of experience advising organizations within the nonprofit and governmental communities. He currently serves as the accounting and auditing technical leader for the Nonprofit & Education practice and counsels clients on various financial, accounting, auditing and reporting issues. In addition to contributing to BDO’s Nonprofit Standard blog, Mr. Klumpp also regularly presents speeches, seminars and webinars on nonprofit accounting and governance issues across the country.

He is also active in his community, serving as an instructor and board member for several professional organizations including the American Institute of Certified Public Accountants, Bethesda Chevy Chase Chamber of Commerce, Congressional Awards Foundation, Greater Washington Society of Certified Public Accountants, Maryland Association of Certified Public Accountants and Montgomery Community Television.

Mr. Klumpp received his B.S., Accounting from the University of Maryland.

About BDO USA

BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, financial advisory and consulting services to a wide range of publicly traded and privately held companies. For more than 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through 42 offices and more than 400 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of 1,118 offices in 135 countries.

BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information please visit: www.bdo.com.